Deals sealed at Expo

Representatives of various sectors from Zimbabwe who participated at the Shanghai Expo say the world exposition presented an opportunity to market the countryâ€™s investment potential to the over 190 countries which were participating at the grand event.

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Officially launched on May 1 this year and expected to run until 31 October, the Shanghai Expo presented an opportunity for the world to meet Africa and showcase the diversity of investment potential that is available in various countries.Â

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For Zimbabwe which has opened up the economy to interested investors, some participants at the global showcase who represented various sectors such as industry and tourism said they were able to clinch partnerships that could be lucrative if implemented fully.

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Industrial Development Cooperation Chief Executive Officer, Mr. Mike Ndudzo said contacts have been made with foreign investment partners for the expansion of joint ventures to consolidate the Sino-Zim plant in Gweru.

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â€œWe have made significant contacts and hopefully this year we will clinch lucrative deals. We are looking at expanding partnerships in the Sino-Zim project in Gweru,â€ said Mr. Ndudzo.

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Parks and Wildlife Management Authority Director General, Mr. Vitalis Chadenga said they were able to market the hunting sector as the Chinese have proven to be a lucrative niche market for this sector.

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He said: â€œWe have not been putting much attention on the hunting sector and we have begun to be serious in this regard. I am happy to say that we have a group of Chinese hunters who will be visiting our country soon.â€

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Meanwhile, the Indigenization Board which was represented by its chairman, Mr. David Chapfika said the Exim Bank of China has been contacted to pursue a possibility for the capitalization of the empowerment fund.

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â€œWe have come here to hold talks with officials from the Exim Bank of China so that we get investment in the empowerment fund.

Already we have received positive feedback,â€ he said.

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The first expo was held in London in 1851 and was used to showcase the industrial, economic and might of Britain and as such China used this as a platform to demonstrate that it will take over as the global superpower in the next decade.